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Time to sell the small stuff February 04, 2021 On its last legs: Scooters India’s product line-up has dwindled to only 3-wheelers - THE HINDU ARCHIVES On its last legs: Scooters India’s product line-up has dwindled to only 3-wheelers - THE HINDU ARCHIVES× Scores of low-profile public sector companies on the block are the products of a different era The headline ‘Scooters India to be sold’ has always brought back memories. As a young reporter back in 1985, I d spotted the headline for the first time and dashed off to Udyog Bhavan for details. I found myself face-to-face with a surly joint secretary who replied in monosyllables. That was an era when it was anathema to sell public-sector companies and it didn’t take me long to realise the sale of Scooters India wasn’t going to happen. ....
Govt approves closure of Scooters India Updated: Updated: The firm has around 100 employees. Share Article The firm has around 100 employees. The government has approved closure of loss-making state-owned firm Scooters India Limited and shutting down the operations of its units, the company said on Thursday. PTI had reported a week ago that the Cabinet Committee on Economic Affairs (CCEA) is believed to have given its consent to the closure of the Lucknow-based company. In a BSE filing, Scooters India said the Ministry of Heavy Industry and Public Enterprises has communicated that the competent authority has approved the closure. It has also cleared seeking a loan (with interest) of ₹ 65.12 crore required for the closure from the Government of India. ....
The government has approved closure of loss-making state-owned firm Scooters India Limited and shutting down the operations of its units, the company said on Thursday. PTI had reported a week ago that the Cabinet Committee on Economic Affairs (CCEA) is believed to have given its consent to the closure of the Lucknow-based company. In a BSE filing, Scooters India said the Ministry of Heavy Industry and Public Enterprises has communicated that the competent authority has approved the closure. It has also cleared seeking a loan (with interest) of Rs 65.12 crore required for the closure from the Government of India. Besides, it has approved separating the regular employees rendered surplus due to the closure through voluntary retirement scheme / voluntary separation scheme (VRS/VSS). ....
Updated Jan 23, 2021 | 12:48 IST Lambretta and Vijai Super two-wheelers drove a generation of Indians and the company which manufactured the iconic vehicles, Scooters India Ltd, has been shut down by the government Innocenti Lambretta-125 (mid 60s) I Source: Wikicommons | Photo Credit: Representative Image For those of us who are not particularly familiar with these two brand names Lambretta, Vijai Super produced by Scooters India, might have at some point seen an old two-wheeler from a previous time rusting in a parking lot somewhere. There’s a good chance that this vehicle is probably a Lambretta or a Vijai Super manufactured by Scooters India Ltd (SIL). ....
Read more about The iconic, incredible scooter Lambretta rides into the Indian sunset on Business Standard. Centuries of colonisation had sapped the Indian economy of its riches and cars were not an option. Scooters were. ....